Apex International Co. Ltd has reported consolidated revenue of NT$2.41 billion ($79.49 million), gross margin of 10.25%, consolidated operating profit of NT$17.51 million, and after tax consolidated net profit of NT$4.15 million for the second quarter of 2017.

Quarter-over-quarter, the second quarter consolidated revenue was up by 2.76%, while consolidated operating profit decreased by 68.52% and after tax consolidated net profit decreased by 93.5%. Compared to the same period last year, Apex’s Q2 results represent an 11.57% increase in consolidated revenue, an 89.31% decrease in consolidated operating profit and a 96.76% decrease in after-tax consolidated net profit.

Second quarter net profit was below expectations, resulting from continually increasing raw material cost, the lower yield rate for new capacities and additional cost for exchange products. Recently, the raw material cost is higher than the first quarter of 2017, and Apex expects to continually control the operating cost.

Source: Apex